MONTREAL, Sept. 23, 2021 /CNW/ - The Good Shroom Co
Inc. (the "Company" or "TGSC") (TSXV: MUSH), is
pleased to announce that its wholly owned subsidiary and licensed
cannabis processor (operating as Seul CBD) has been approved by the
Société Quebecoise du Cannabis ("SQDC") for listing of its
Velada wellness beverage brand and Nordique Royale hash brand in
the province of Quebec. The
cannabis products are expected to become available for purchase
prior to the end of the year.
TGSC's Nordique Royale hash brand was formulated following an
analysis of Quebec's hash market
to compete with the top selling products. The companies hash line
will be offered at more competitive prices, same or higher
cannabinoid content, maintained quality but made to resemble
popular hash found on the black market. Comprised of 3 SKUs to
begin, the company will offer Le
Choix du Nord, an oil enriched dark glossy and malleable
hash; Afghan Gold, a dark matte textured hash; and Équilibré, an
extra malleable and light flavoured hash with a THC:CBD ratio of
1:1. The SQDC's hash sales in 2020 were estimated to be
$85M over its online store and 65
retail outlets. It is expected that the quantity of SQDC stores in
Quebec will reach 100 by the end
of 2022.
Velada produces cannabis infused instant coffee and teas in a
variety of different flavors such as café olé, matcha latte, golden
milk latte, and hot chocolate. Velada café olé will be
Canada's first cannabis infused
coffee. Each flavor has two options, one containing CBD only and a
second containing CDB and THC at a 2:1 ratio. In line with
the company's core mission to make beverages functional, all
products contain a mix of flavourless mushroom adaptogens for
additional wellness benefits. All Velada beverages are vegan,
gluten free, non-GMO, sugar free and are generally regarded by TGSC
customers as exceptionally great tasting.
This is another milestone in a nationwide campaign to distribute
cannabis branded products and hash across the entire country over
the course of the next twelve months.
About the Company
TGSC's mission is to build clean label brands that are
synonymous with functionality, flavour and quality, rooted in a
company recognized for having a socially responsible approach.
Through its wholly owned subsidiary, Teonan, it manufactures and
sells functional beverages under its two brands: Teonan and Velada.
Inspired by the relationships ancient cultures held with mushrooms
and in line with growing consumer trends towards functional foods,
Teonan created the instant beverage lines using a custom blend of
organic mushroom extracts chosen for their known health benefits,
all the while keeping the focus on developing delicious
flavors." All of Teonan's instant beverage mixes are
certified organic (Ecocert - USDA), vegan, dairy free, GMO free and
gluten free. Teonan began direct to consumer sales of the
Teonan beverages in North America,
in December 2019, via its online
stores.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
Cautionary Note Regarding Forward-Looking
Information
This press release contains statements which constitute
"forward-looking statements" and "forward-looking information"
within the meaning of applicable securities laws, including
statements regarding the plans, intentions, beliefs and current
expectations of the Corporation with respect to future business
activities and sales. Forward-looking statements are often
identified by the words "may", "would", "could", "should", "will",
"intend", "plan", "anticipate", "believe", "estimate", "expect" or
similar expressions. Investors are cautioned that
forward-looking statements are not based on historical facts but
instead reflect the Corporation's expectations, estimates or
projections concerning future results or events based on the
opinions, assumptions and estimates of management considered
reasonable at the date the statements are made. Although the
Corporation believes that the expectations reflected in such
forward-looking statements are reasonable, such statements involve
risks and uncertainties, and undue reliance should not be placed
thereon, as unknown or unpredictable factors could have material
adverse effects on future results, performance or achievements.
Among the key factors that could cause actual results to differ
materially from those projected are the following: expectations
with respect to the future growth of wellness beverages and edible
cannabis industry; market acceptance of the products, plans for and
timing of expansion of its products; expectations regarding
competition; maintaining in good standing all necessary regulatory
licenses and authorizations for its products; the benefits, safety,
efficacy, dosing and social acceptance of cannabis related products
and no material changes in the legal environment; changes in
applicable laws and regulations both locally and in foreign
jurisdictions; compliance with extensive government regulation;
operational risks related to and COVID-19 or other pandemic and
supply chain disruptions. Should one or more of these risks
or uncertainties materialize, or should assumptions underlying the
forward-looking statements prove incorrect, actual results may vary
materially from those described herein as intended, planned,
anticipated, believed, estimated or expected. Although the Company
has attempted to identify important risks, uncertainties and
factors which could cause actual results to differ materially,
there may be others that cause results not to be as anticipated,
estimated or intended and such changes could be material. The
Company does not intend, and do not assume any obligation, to
update the forward-looking statements except as otherwise required
by applicable law. Trading in the securities of the Company
should be considered highly speculative.
SOURCE The Good Shroom Co Inc.
